N-PORT filing recap · March 2023

What did Ariel Appreciation Fund buy in March 2023?

Reported stock-position changes between this filing and the previous one. These are Ariel Appreciation Fund's own holdings, not the firm's.

Stock value

$1.12B

Positions

Estimated turnover

9.4%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

JLLJones Lang Lasalle Incorporated$8.65Mreported value+59.5K shares

Increased positions

NTRSNorthern Trust Corp$45.78Mreported value+23.0K shares+4.6%LHLabcorp Holdings Inc.$41.32Mreported value+5.0K shares+2.9%KMXCarmax, Inc.$33.97Mreported value+31.7K shares+6.4%SCHWSchwab Charles Corp$31.43Mreported value+71.1K shares

Reduced positions

GSThe Goldman Sachs Group, Inc.$47.00Mreported value-5.0K shares-3.4%BWABorgwarner Inc$41.16Mreported value-59.5K shares-6.6%SPHRSphere Entertainment Co.$37.52Mreported value-52.6K shares-7.6%IPGThe Interpublic Group of Companies, Inc.$37.08Mreported value-96.5K shares

Exited positions

PGRProgressive Corp/oh/$5.69Mprior reported value-43.9K shares-100.0%